Blue Springs woman, 8 others indicted in mortgage fraud

Monday

Nov 22, 2010 at 12:01 AMNov 22, 2010 at 9:22 PM

A Blue Springs woman was among nine defendants indicted by a federal grand jury for their roles in an $11 million mortgage fraud scheme.

Leann Raejeana Turner, 41, Blue Springs, and Bruce Q. Williams, 41, of Kansas City, Kan., joined seven co-defendants who face a 35-count indictment that the jury rendered on Friday. The U.S. Attorney’s Office in Kansas City announced the indictment Monday.

Michael Glover - michael.glover@examiner.net

A Blue Springs woman was among nine defendants indicted by a federal grand jury for their roles in an $11 million mortgage fraud scheme.

Leann Raejeana Turner, 41, Blue Springs, and Bruce Q. Williams, 41, of Kansas City, Kan., joined seven co-defendants who face a 35-count indictment that the jury rendered on Friday. The U.S. Attorney’s Office in Kansas City announced the indictment Monday.

The indictment alleges that the defendants participated in a mortgage fraud conspiracy from early 2005 to summer 2006. Lenders made more than $11 million in loans on 16 residential properties in Lee’s Summit, Blue Springs, Independence, Liberty, Parkville and Oak Grove. From that amount, buyers allegedly received more than $2 million from the loan proceeds that the lenders were not aware of.

Turner and another co-defendant from Newbury Park, Calif., were real estate agents. Williams and another co-defendant were mortgage loan officers.

Defendants submitted fraudulent mortgage loan applications to purchase residential properties at inflated prices, according to the indictment. The purchases were allegedly structured so that the buyers would receive $100,000 cash back from the loan proceeds. The buyers would obtain mortgage loans in excess of the actual sales prices to be paid to the seller in order to receive the difference between the actual sales price and the inflated loan amount.

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